How Russia Affects the Neighborhood - Trade, Financial, and Remittance Channels

We test the extent to which growth in the 11 CIS countries (excluding Russia) was associated with developments in Russia, overall, as well as through the trade, financial and remittance channels over the last decade or so. The results point to the continued existence of economic links between the CI...

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Bibliographic Details
Main Author: Espinosa-Bowen, Jaime
Other Authors: Alturki, Fahad, Ilahi, Nadeem
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 25 pages 
651 4 |a Russian Federation 
653 |a Current Account Adjustment 
653 |a Short-term Capital Movements 
653 |a Macroeconomics 
653 |a Real effective exchange rates 
653 |a Energy: Demand and Supply 
653 |a Current account balance 
653 |a International finance 
653 |a Foreign exchange 
653 |a Remittances 
653 |a Foreign Exchange 
653 |a Currency 
653 |a Balance of payments 
653 |a Oil prices 
653 |a International economics 
653 |a Current account 
653 |a Prices 
653 |a Exports and Imports 
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700 1 |a Ilahi, Nadeem 
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520 |a We test the extent to which growth in the 11 CIS countries (excluding Russia) was associated with developments in Russia, overall, as well as through the trade, financial and remittance channels over the last decade or so. The results point to the continued existence of economic links between the CIS countries and Russia, though these links may have altered since the 1998 crisis. Russia appears to influence regional growth mainly through the remittance channel and somewhat less so through the financial channel. There is a shrinking role of the trade (exports to Russia) channel. Russian growth shocks are associated with sizable effects on Belarus, Kazakhstan, Kyrgyz Republic, Tajikistan, and, to some extent, Georgia